Tanzania GDP Growth Rate

The Gross Domestic Product (GDP) in Tanzania expanded 1.50 percent in the third quarter of 2010 over the previous quarter. GDP Growth Rate in Tanzania is reported by the The National Bureau of Statistics (NBS). From 2001 until 2010, Tanzania GDP Growth Rate averaged 1.8 Percent reaching an all time high of 12.4 Percent in March of 2006 and a record low of -14.0 Percent in June of 2006. Tanzania has one of the lowest GDP per capita in the world. The nation has many natural resources including natural gas, gold, diamonds, coal, iron ore, uranium, nickel, chrome, tin, platinum, coltan and niobium. However, the Tanzanian economy depends heavily on agriculture, which provides 85% of exports, and employs 80% of the work force. In addition, in recent years, tourism revenues have been growing as many national parks attract foreign visitors. This page provides - Tanzania GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-24

Actual Previous Highest Lowest Forecast Dates Unit Frequency
1.50 1.60 12.40 -14.00 1.12 | 2014/06 2001 - 2010 Percent Quarterly

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Tanzania GDP Growth Rate
LIST BY COUNTRY

GDP Last Previous Highest Lowest Forecast Unit
GDP 28.25 2012-12-31 23.87 28.25 4.26 32.98 2014-06-30 USD Billion [+]
GDP Growth Rate 1.50 2010-09-30 1.60 12.40 -14.00 1.12 2014-06-30 Percent [+]
GDP Annual Growth Rate 6.50 2013-09-30 6.70 11.20 2.90 6.67 2014-06-30 Percent [+]
GDP per capita 483.48 2012-12-31 466.37 483.48 278.43 510.08 2014-06-30 USD [+]
GDP per capita PPP 1379.63 2012-12-31 1330.79 1379.63 794.50 1455.53 2014-06-30 USD [+]
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GDP Growth Rate | Notes
The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes.


RELATED NEWS

Tanzanian Inflation Rate Edges Up Slightly in March  
The annual consumer prices in Tanzania accelerated to 6.1 percent in March of 2014, from 6.0 percent recorded in February, as food cost edged up. Compared with the same period a year earlier, the inflation rate slowed down from 9.8 in March of 2013.
Tanzania Inflation Rate Unchanged in February  
Tanzania's annual inflation rate was 6.0 percent in February of 2014, unchanged from the previous month. The government targets 5.0 percent inflation by June.
Tanzania Inflation Rate Accelerates in January  
In January of 2014, Tanzania’s annual inflation rate increased to 6 percent after falling in December to a 3-year low at 5.6 percent. The rise was mainly due to higher cost of electricity and natural gas and school fees for both private primary and secondary schools.
Tanzania Inflation Rate Slows in December  
In December of 2013, Tanzanian annual inflation rate slowed to 5.6 percent from 6.2 percent in November. In contrast, monthly inflation accelerated to 1.3 percent due to higher cost of both food and non food items such as petrol and clothing.
Tanzania Inflation Rate Falls to 6.2% in November  
In November of 2013, Tanzanian inflation rate regained its downward trend and slowed to 6.2 percent, after accelerating to 6.3 percent in the previous month.
Tanzania Inflation Rate Accelerates to 6.3% in October  
In October of 2013, Tanzanian annual inflation rate increased to 6.3 percent, slightly up from 6.1 percent in the previous month. With the exception of December last year when the rate remained steady, inflation has been on a downward trend since December of 2011, as good harvest seasons led to a fall in food prices.
Tanzania Inflation Rate Decreases to 6.1% In September  
In September of 2013, Tanzanian inflation rate eased to 6.1 percent, from 6.7 percent in August, mainly due to a slowdown in housing and transport prices.
Tanzania Inflation Rate Eases to 6.7% in August  
In August of 2013, Tanzanian inflation rate eased to 6.7 percent, the lowest rate since January of 2011, mainly due to lower food prices.
Tanzania Inflation Rate Slows to 7.5% in July  
In July of 2013, Tanzanian year-on-year inflation rate eased for the seventh consecutive month to 7.5 percent, from 7.6 percent recorded in June, mainly due to lower energy cost.
Tanzanian Inflation Rate Down to 28-Month Low in June  
In June of 2013, Tanzanian year-on-year inflation rate eased for the sixth month in a row to 7.6 percent, the lowest rate since February of 2011. All food and non-food prices decelerated in June, except for education which remained unchanged from May's figure.
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